Tillis to end block on Fed chair nominee Warsh after Justice Department drops Powell investigation

GOP Sen. Thom Tillis says he will drop his opposition to Trump nominee Kevin Warsh become the next Federal Reserve chairman.

The North Carolina lawmaker is a member of the Senate Banking Committee that vets nominees to the Federal Reserve. And his decision to not "recommend" Warsh for a final Senate confirmation vote could or would derail his appointment.  There are 13 Republicans and 11 Democrats on the panel, so any Republican could block a nomination from advancing. 

Warsh would replace outgoing Fed Chairman Jerome Powell.  

Tillis had sworn that he wouldn't vote for Warsh so long as the Justice Department continued its investigation of Powell. The department was looking into alleged cost overruns related to renovations of the Federal Reserve building. Tillis thought the investigation was undermining the independence of the Federal Reserve. The department in recent days has dropped the probe.

“I am prepared to move on with the confirmation of Mr. Warsh, I think he’s going to be a great Fed chair,” Tillis, R-N.C., said on NBC’s “Meet the Press.”